Pfizer to acquire Houston based Pharmaceutical Company

Encysive Pharmaceuticals Inc. has agreed to be acquired by drug maker Pfizer Inc. for about $195 million. The Houston bio-pharmaceutical company said New York-based drug firm Pfizer will make a $2.35 per share offer for the company.

Upon completion of the deal, expected in the second quarter, Pfizer will have rights to Thelin, Encysive's oral drug approved by several European Union countries, that treats pulmonary arterial hypertension, or high blood pressure in the pulmonary artery.

Pfizer said it is planning a late-stage trial of Thelin in the United States to obtain approval for the drug by the Food and Drug Administration.